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comment by veen
veen  ·  2501 days ago  ·  link  ·    ·  parent  ·  post: Toyota, Merck Join Ethereum Group to Build Blockchain Network

And a 52 others. The full announcement is here. Lots of significant names! Deloitte, ING, Rabobank, National Bank of Canada, Samsung...

This feels like ages ago:

I'm still waiting for a correction - as we speak, the market cap for ETH is half of that of BTC. It feels overvalued to me in relation to the development path of Ethereum, but that's based solely on my SpideySense™. I'm holding on for the ride.





kleinbl00  ·  2501 days ago  ·  link  ·  

BTC went to a grand, then down to what? $170? Can you really "correct" a market that's frothier than a 3x ETF?

Long-term, I think it's gonna come down to Ethereum, Ripple or Hyperledger. A lot of big names are in Ethereum and Hyperledger. Others are in Ethereum and Ripple. The Japanese are heavy into Ripple; the Koreans are heavy into Ethereum. Nobody's done a Venn diagram, though, and I think we're getting there.

mk  ·  2501 days ago  ·  link  ·  

Ripple doesn't have smart contracts, and I doubt folk would want to build a Rootstock for Ripple, seeing as it's not really decentralized. Ripple Labs can choose truth. As there's no public hyperledger used, it has none of the creativity being invested at a much higher cost.

But yes, I expect a pullback at some point. But who knows from whither to where.

kleinbl00  ·  2501 days ago  ·  link  ·  

All these arguments are true and we still ended up with VHS. That Betamax was objectively better on every front but one did not matter because that one front - the ability to fit a 2-hour movie on a single tape - ended up dominating the market.

A Blu-ray player has the physical capability of playing an HD-DVD. It won't, though. They even use the same codec. It's arguably a superior format in many, many ways and the manufacturers could have made a device that played both - nobody did but Samsung. It was argued backintheday that Microsoft and Apple picked opposite sides on that battle for the express purpose of making sure neither format became dominant ahead of streaming because physical media was in neither of their business plans. Sho'nuff, Silverlight is the backbone of internet streaming and Quicktime has been canonized into FCC broadcast rules.

A rational market would choose Ethereum. Markets are rarely as rational as we think they are.

mk  ·  2501 days ago  ·  link  ·  

Agreed. In fact, I suspect a technologically superior smart contract platform with blockchain-like security will emerge, and will may lose to Ethereum simply due to the inertia being built each day.

Maybe not, but in any case, I strive not to be caught unawares.

kleinbl00  ·  2501 days ago  ·  link  ·  

And fuckin'A where do you find truth? I find that half the links that wash across my transom are about technical analysis. Except in this crazy world, with as few participants, technical analysis is only as invalid as the number of people who ignore it, and fuckin' 90% of the coverage of cryptocurrency on any given day is goddamn technical analysis so you have to at least entertain the notion that in this one stupid instance, you might have to acknowledge the validity of technical analysis.

mk  ·  2501 days ago  ·  link  ·  

As far as I am concerned, it's all about who's building on it, and what they are building on it, which then roughly translates to txns/day. Status, Golem, Raiden, Augur, etc. Those things require serious mindshare and energy, and they create compounding value. Toyota and Samsung joining the EEA are lagging indicators.

Also the mindfuck of an ETH dapp that is Prism:

veen  ·  2500 days ago  ·  link  ·  

Interesting dapp - I'm sure there are already a bunch of people diversifying over multiple altcoins. Do you think any of the other altcoins have merit (e.g. concepts that can't be implemented in Eth)? Golem looks useful but I don't see why it's not just a dapp instead of being a different coin.

mk  ·  2500 days ago  ·  link  ·  

I think Golem could be very useful. It's an ETH token, like Augur, Gnosis, etc. Having a token gives them a method to raise funds, and also some greater control of the resource, and payments.

veen  ·  2500 days ago  ·  link  ·  

What does it mean to be an ETH token? It has its own value (about $.40 now), so it isn't tied to ETH in its value, right?

mk  ·  2500 days ago  ·  link  ·  

ETH tokens are basically tagged bits of ETH that track ownership/participation in a Dapp/contract. I believe that different tokens represent different amounts of ETH, but that they are all quite small. I need to look into that. Their value isn't directly tied to ETH's, no.

kleinbl00  ·  2501 days ago  ·  link  ·  

That's just it though - it isn't as far as you're concerned, or as far as I'm concerned. We're passengers here.

One thing about markets as they currently exist: they're at least nominally regulated. I recognize that it isn't as simple as all that but...

mk  ·  2501 days ago  ·  link  ·  

Well, Prism isn't regulated. What that will mean, idk.